Price closed below the cloud in the previous trading session, changing the chart outlook to bearish. Conversion line and Base line had a bearish crossover and is hinting at a bearish price trend ahead. Lagging Span is below price of 26 days ago and is below the cloud, confirming the bearish price trend. MACD is bearish. If price can stay below the cloud, it could be heading towards the previous support at $34.91
Outlook Price broke above the cloud on 26 May and during a brief pullback, was able to hold above the cloud, keeping the uptrend intact. The pullback was halted by the cloud upper edge, which is a sign of a strong support and trend. Conversion and Base lines had a bullish crossover, hinting of a bullish price trend. Lagging Span is above price of 26 days ago and above the cloud, confirming the bullish trend. MACD is bullish with both lines above the zero line. We think price is likely to move higher to the next resistance zone at $55.40 in the next 2-3 weeks.
Outlook Price reached a high of $55.70 on 20 January 2021 and has been on a decline since that high. Price reached a low of $49.58 and has since turned around. Last Friday, price broke above a downtrend line, hinting that the correction could be over and a rally for the upper edge of the uptrend channel is about to resume. Conversion line and Base line are about to have a bullish crossover, hinting of the bullish trend. Lagging Span is above price of 26 days ago and above the cloud, confirming the bullish trend. MACD is bullish and we could have a bullish crossover soon. We think the correction is over and price likely to move higher to $58.30, which is the Ichimoku V-shaped price projection target, in the next 2-3 weeks.
Price made a new 5-year high 2 days ago. In creating this high, it also created a gap. This could be a midway gap, which has a target at $63.17. If price is above to stay above $57.50, price is likely to head towards $63.17. Fibonacci 161.8% target point is at $62.80. Intel’s historical high is at $76. Price is currently above the cloud and above both Conversion and Base lines, which are indicative of a bullish trend. MACD is bullish and moving higher. MACD line is also high above the zero line, which is an indication of a strong trend.
Price made a new high 2 days ago, in line with the NASDAQ 100 Index. Price is also above the cloud and above both Conversion and Base lines, which is an indication of a strong bullish trend. The recent rally in the uptrend has also been steep, which is an indication of a strong trend. Price has reached the Fibonacci 161.8% projection point and the next higher Fibonacci projection point is at the 200% Fibonacci point at $27.57. Both lines of the MACD indicator had a bullish crossover and are both rising. Both lines are high above the zero line as well indicating a strong trend.
